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US and Canadian regulators open probes into cryptocurrency scams

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U.S. and Canadian state securities regulators announced Monday they have launched dozens of investigations into cryptocurrency scams.

The North American Securities Administrators Association announced the wide-ranging series of probes on Monday, dubbed “Operation Crypto-Sweep.” The investigations, some of which have already concluded, are aimed at unregistered securities offerings and initial coin offerings that promise significant returns without informing investors of the risks.

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A task force convened by the group of state regulators in April has launched 70 investigations, with 35 already facing completed or pending enforcement actions.

 Regulators have already sent cease and desist letters to several alleged schemes, including websites that relied on fake addresses and photos to appear legitimate when seeking investors. Officials said there will be additional enforcement actions to come against companies looking to defraud cryptocurrency investors.
“The actions we’ve taken to date are just the tip of the iceberg,” said Joe Borg, NASAA president and director of the Alabama Securities Commission.

Regulators invited the public to come forward with additional potential scams, while urging investors to be vigilant in seeking investments in the new arena.

The move by state regulators to crack down on cryptocurrency scams comes amid growing attention to virtual currencies by federal regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.

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 “You’re going to see in this space a lot more collaboration and cooperation going forward,” said Borg.
Reporting by Pete Schroeder; Editing by Bernadette Baum and Andrea Ricci


Report typos and corrections to: [email protected].
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Stephen Colbert rips ‘idiot’ GOP senator for defending Trump’s unconstitutional self-dealing

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"Late Show" host Stephen Colbert returned from New Zealand for a new show that aired Monday evening.

"I have been as far from the insatiable black hole of news that is Donald Trump as you can get on this planet.

I've heard there have been some developments over the last 10 days that did not go well for Donnie,"

The host ripped Trump's 71-minute press conference.

"Seventy-one minutes is not a press conference, it's a one man show," he explained. "If you liked 'Fleabag,' you'll love Donald Trump in 'Douchebag,'" he said.

[caption id="attachment_1555275" align="aligncenter" width="800"] ‘The Late Show’ graphic (screengrab)[/caption]

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Donald Trump is making a mockery of Marco Rubio — and the Florida senator is letting him

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Sen. Marco Rubio was once one of Donald Trump’s most formidable opponents; now, the Florida senator bends over backward to excuse the president’s corruption.

In 2016, Rubio and Trump sparred frequently on the Republican primary debate stage. Trump picked the uninspired nickname “Little Marco” for the senator, which didn’t seem to do much damage on its own, but Rubio never gained the momentum or strength that his backers hoped would prove to be strong enough to take down the reality TV candidate. As Rubio grew desperate, he launched one of his most memorable and pitiful attacks by stooping to his opponent’s level, implying that Trump had a small penis. It was more of an embarrassing moment for Rubio than anyone else, though Trump helped himself with a crude rejoinder.

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The faith of Fox News: How the network’s propaganda warps viewers’ sense of reality

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A longtime sticking point among Fox News employees is their insistent differentiation between its news division, where employees practice actual journalism, and its opinion division, where employees practice actual nativism, spew misinformation, and have been actively campaigning for Donald Trump’s re-election since 2016.  Inside the organization, they claim to believe that the news side is separate from the opinion side, and insist that the audience can tell the difference.

News anchor Shepard Smith once characterized comparing the two as “apples and teaspoons.”

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